10 Things that Make Lake Keowee Real Estate a Great Investment
The overall value of the real estate on the lakes in South Carolina has gone up more than 15% since 2017, according to a report from Lake Homes Realty, a multistate real estate company. Lake properties Upstate, especially those with outdoor fireplaces, wraparound porches, and wine cellars, are on top of the market.
Currently, the total value of Lake Keowee real estate is at over $1.5 billion on both undeveloped parcels and homes, and the numbers seem to be steadily rising.
Lake Keowee leads the lakeside real estate state with over $355 million, which happens to be close to a quarter of the state’s waterfront directory. There is no shortage of lakeside properties in the state but Lake Keowee continues to dominate the market, and with good reason.
Here are some of the reasons why Lake Keowee should be at the top of your list when it comes to real estate investment.
Keowee SC real estate offers a blissful escape from the hustle and bustle that comes with the urban lifestyle. It strikes a special balance that depicts a calm and serene environment surrounded by nature on one hand and the level of efficiency brought by living close to urban areas. This is a huge advantage for most homebuyers who don’t want to give up the city entirely.
Lake Keowee’s remoteness is especially advantageous for investors. Homebuyers looking into the area come seeking unspoiled water and the renowned planned community. Its location pits it well against other real estate properties and can fetch very good prices especially if you are invested in condos and large family homes.
2. Weekend Getaways
There is a specific class of homebuyers that any investor seeking to invest in Keowee Key real estate must strive to tap into: city dwellers looking for weekend getaways. Most people who live in big cities do so because of their jobs, but when the weekend arrives, they want to get out. That is where you come in. you can use the serenity and beauty of the lakeside to your advantage.
You would need to acquire appealing properties and maybe even spruce them up a bit with a wine cellar here and a back-yard porch there and voila! A perfect weekend getaway for whoever comes looking. Selling a property and renting it out are both viable choices with rewarding returns. You just need to create a strategy that will help you get the most out of your Lake Keowee real estate in ownership or sale.
Lake homes all over the state appreciate every year and the same is true for Lake Keowee real estate. The standard growth rate for regular property stands at one or two percent compared to the whopping four percent for lakefront property, which should steer you in the right direction in terms of investments that cannot possibly go wrong.
Most Lake Keowee real estate property investors start to reap significant benefits even before they consider selling the property. That is mainly due to the high demand for these homes on both a permanent and temporary basis. You are guaranteed to be swamped with families and tourists who want to rent a house or even vacation in it for several months.
The Keowee SC real estate market seems to be unwavering even in the face of economic adversities that have seen to hardly-hit regular house markets. The market for waterfront properties is even said to have been more lucrative before 2008, after which it maintained its edge but at a much lower scale.
However, a significant number of people buy waterfront homes in Keowee key real estate just so they can resell it and turn a profit: there is no reason why you shouldn’t join in on the fun. There are numerous premium properties to choose from and their values are guaranteed to be on the rise for a long time to come.
Lake Keowee came about as a result of the construction of three dams to serve the area. As such, you can be assured that water is not a problem. Water shortages are normally reported in numerous parts of the state with some homes even getting dirty and contaminated water. As such, areas with a constant supply of clean water enjoy the interest of a wide market.
Lake Keowee is powered by Duke Energy and serves three gated communities complete with country clubs and golf courses. Keowee key real estate remains a top choice for homebuyers because of the surplus water available for both residential and recreational purposes. Whether you choose to rent out single-family homes or improve and sell large properties, your investment is guaranteed to pay off.
Have you seen the magnificent views surrounding all Keowee Key real estate? Waking up to such a view every day can be compared only to a handful of other similarly beautiful things in existence. That is precisely why your investment in Keowee SC real estate can never go wrong.
A significant number of people are trading life in the city for a more serene environment where they can enjoy nature at its core and what better place than a waterfront home! Of course, the homes you choose to invest in must be up to par but most people buy them simply because they can live surrounded by nature.
Keowee SC real estate is surrounded by more than three hundred miles of spectacular shoreline. It also a recreational haven for all sorts of watersports including kayaking, fishing, sailing, swimming, and boating. Lake Keowee is a clean freshwater lake and an excellent spot for outdoor leisure activities.
Most of the lake is in Oconee County and enjoys very close proximity to the magnificent Blue Ridge Mountains. This coupled with the rich heritage and warm locals makes it one of the best places to live in the state. Keowee SC real estate is not completely cut off from the perks that come with an urban setting. It is accessible from Atlanta, Charlotte, Charleston, and Raleigh-Durham and is no more than several hundred miles from each.
The area is rife with country clubs and golf courses which account for most of the tourists and visitors to the region. One can enjoy dolphin and bird watching or hang out at its beautiful beaches, some of which are ranked among the top ten beaches in the country. Lake Keowee real estate is not something you consider committing to twice: the facts are overwhelming enough.
Elderly couples are retirees have been seen to be especially keen on purchasing Lake Keowee real estate homes. They may be nothing more than weekend getaways for city folk, but they are the top choice for people looking for a clean, green, and quiet environment for their healthy well-being.
Senior citizens prefer to buy a Keowee SC real estate waterfront property where they are surrounded by a beautiful and calming lake. The air is clean, making it the go-to destination for elderly couples, retirees, and families who want to live in a healthy environment away from the city.
9) Air Quality
Air quality is one of the main aspects that sets apart lakeside properties from standard homes in urban settings. Big towns and cities are crawling with factories and all sorts of vehicles that are constantly emitting fumes and gases that devalue the quality of air. That is why the natural freshness of the air that is free from chemicals is so important to some people. You can tap into the environmentally-concerned and make both short term and longterm Keowee SC real estate investments.
10) Big ROI
An important fact you should bear in mind when considering waterfront Lake Keowee real estate investment is that waterfront properties can be quite expensive, especially compared to their standard counterparts. However, this does not render it a futile endeavor. Far from it. Buying a lakeside property might be pricey but so is the resale value.
Owning waterfront property is exceptionally rare on its own but most people are drawn to these houses because of the sense of luxury they offer. There is no limit to the exotic beauty and serenity to be enjoyed, not to mention the proximity to all the social amenities one would require. These features ensure that a good lakeside house is always going to be on-demand whether it’s today or ten years from now.
Waterfront property in Keowee SC real estate is guaranteed to prove worthy as a long-term investment and can also land you a significant resale rate if you would like to sell it immediately or even rent it out.
It is especially important to familiarize yourself with the capability of available property to become an income generator for you and its benefits. While some properties seem to be booming every which way, others are bound to trap your money for years because of their lack of popularity. Keowee SC real estate is one of the wisest waterfront property investments you can make.
Statistics show that Lake Keowee real estate grows faster to exceed their initial prices. These homes rarely remain in successful real estate markets irrespective of whether they are small or large. Vacation homes are guaranteed to bring you a good number of tourists in certain months and you can make some surplus income from single and multiple family rentals.
Now that we have established the top aspects that make Keowee SC real estate a great investment option, there are additional considerations one must make before committing their money. Let’s have a look at the most essential factors to consider when choosing a real estate investment.
Factors to Consider Before Investing in Lake Keowee Real Estate
Purpose for Investment
Investments in real estate ought to be well considered to avoid making a financially devastating decision. It might help to consider the following aspects before delving into this significant decision
- Buying for self-use helps you to save on rent while enjoying the benefits of value appreciation if you consider selling later.
- Buying and leasing offers both long- and short-term benefits but the duties of a landlord can be quite demanding.
- You can also buy a property under construction and sell it as soon as it is completed.
Cash Flow Opportunities
Your cash flow is basically what you are left with after deducting all expenses. The property you invest in must be able to maintain positive cash flow so you can make good returns on your investment.
You can analyze your properties capabilities in terms of profit alongside costs by using the following criteria:
- Expected rental income cash flow
- The expected rise in value due to property appreciation
- Tax benefits and advantages that come with depreciation
- Cost to benefit ratio if you are renovating to get a better sale price
- Cost to benefit ratio between mortgage loans and the expected appreciation in value.
Building or Buying Existing Property
Building a new property offers attractive rates and lets you personalize the home and even add modern fittings but there are risks involved as well. Construction is not only expensive but also prone to delays and the uncertainty that comes with developing a new neighborhood. Existing real estate properties on the other hand are convenient, readily available, and can be acquired at very affordable prices.
You might also want to consider the following aspects to be on the informed side of things.
- Analyze recent surveys and appraisals for existing properties
- Factor in taxes, outstanding payments, and maintenance costs
- If you are investing in a leased Lake Keowee real estate property, find out if it is rent-controlled or free charge
- Perform a quality check on all fittings and furniture if they come with the sale
Overall State of the Market
Although every investor plans to buy at a relatively low price and sell high, real estate market trends are prone to fluctuate and this may be to your detriment. It would be best to study the real estate market of the area you are considering and pay close attention to the following statistics:
- Mortgage rates
- Home sales and prices
- Real estate home inventory
An investment in Lake Keowee real estate is a fast and assured way to get high returns on a short- and long-term basis but you must put some serious thought into all the aspects involved to avoid making a rash decision. We sincerely hope that this post has provided the necessary insight to help you make an informed decision concerning Keowee key real estate.